Book Image

Blockchain for Decision Makers

By : Romain Tormen
Book Image

Blockchain for Decision Makers

By: Romain Tormen

Overview of this book

In addition to cryptocurrencies, blockchain-based apps are being developed in different industries such as banking, supply chain, and healthcare to achieve digital transformation and enhance user experience. Blockchain is not only about Bitcoin or cryptocurrencies, but also about different technologies such as peer-to-peer networks, consensus mechanisms, and cryptography. These technologies together help sustain trustless environments in which digital value can be transferred between individuals without intermediaries. This book will help you understand the basics of blockchain such as consensus protocols, decentralized applications, and tokenization. You'll focus on how blockchain is used today in different industries and the technological challenges faced while implementing a blockchain strategy. The book also enables you, as a decision maker, to understand blockchain from a technical perspective and evaluate its applicability in your business. Finally, you'll get to grips with blockchain frameworks such as Hyperledger and Quorum and their usability. By the end of this book, you'll have learned about the current use cases of blockchain and be able to implement a blockchain strategy on your own.
Table of Contents (16 chapters)
Title Page

What are ICOs?

An ICO is somewhat like an initial public offering (IPO). Basically, it is a fundraising tool that trades a new cryptocurrency in exchange for an already existing currency. Instead of listing a share on a designated stock exchange like in an IPO, the company issues newly created coins that they put up for sale at a given price.

Put simply, it is a project funded by liquid money (Bitcoin, Ethereum, or fiat currencies ( against a new cryptocoin created specifically for a project. These new coins are called tokens and are basically blockchain-based digital coupons that are tradable from peer to peer in an irreversible way. By purchasing these digital coupons, investors believe in the project's success and the added value coming with their resale.

Traditionally, start-ups and companies can raise money through...